German stimulus plan ranked world's best
Germany has implemented the best economic stimulus package in the world, according to a new study released by Manager Magazin on Friday.
In an analysis of the ten most important industrial economies, Boston Consulting Group found that while Germany only spent a moderate sum compared to other nations, its stimulus package details put Berlin in the best position to excite the economy in the short term.
The study named the Abwrackprämie, a “car scrapping premium” paying €2,500 ($3,500) to those junking a car at least nine years old for a new one, as a key success in the post-crisis stimulus plan.
The study also considered whether stimulus packages avoided protectionist elements, and whether investments in long term growth in areas like research and education were included. Germany came out ahead in these areas, leading to the overall top ranking, Manager Magazin reported.
The US and China followed in the second and third for the BCG study, released in full in the magazine’s Friday print edition.